Indonesian Quasi-Sovereigns

INDONESIA - Report 05 Sep 2017 by Cyrillus Harinowo

Indonesian quasi-sovereigns are mostly in the form of state-owned enterprises. Currently there are over 100 SOEs, and many of them also have subsidiaries. Among the many Indonesian SOEs, Pertamina stands out as the largest company. Pertamina has several subsidiaries, and some of the subsidiaries also have sub-subsidiaries. In the past, Pertamina was far larger than the other SOEs. However, as time went by, a number of companies have grown increasingly larger, including PLN (The Power Company), PT Telkom (Telecommunication Company), and Bank Mandiri and Bank BRI, both of which are the largest banks in the country.

In doing business, PT Pertamina developed a number of funding sources to finance its investment activities. Corporate bonds are being used by PT Pertamina to enhance its funding capacity. In the past few years PT Pertamina has issued several series of global bonds, which now total $8,750 million. These bonds are not guaranteed by the government. However, in preparing for the financing program of the new and refurbished refineries, PT Pertamina has discussed the possibility of involving government guarantees.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.